USD/DKK may fall 198 - 292 pips

Our pivot point is at 6.8956.

Our preference

The downside prevails as long as 6.8956 is resistance.

Alternative scenario

Above 6.8956, look for 6.9114 and 6.9208.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 6.8834 and 6.8882). Finally, the USD/DKK is trading below its lower Bollinger band (standing at 6.8803).

Supports and resistances

6.9208 **

6.9114 *

6.8956 **

6.8894

6.8794 last

6.8596

6.8502 **

6.8408 *

6.8314 **

Number of asterisks represents the strength of support and resistance levels.